International Game Technology (NYSE:IGT) Issues Earnings Results

International Game Technology (NYSE:IGT) issued its earnings results on Tuesday. The company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.24), Briefing.com reports. International Game Technology had a return on equity of 19.95% and a net margin of 4.89%. The business had revenue of $587.00 million for the quarter, compared to analysts’ expectations of $591.50 million. During the same period last year, the company posted $0.52 earnings per share. The business’s quarterly revenue was down 2.3% on a year-over-year basis. International Game Technology updated its FY 2024 guidance to EPS and its Q4 2024 guidance to EPS.

International Game Technology Trading Up 1.8 %

Shares of IGT stock traded up $0.37 during trading hours on Wednesday, hitting $21.35. 38,609 shares of the company were exchanged, compared to its average volume of 1,105,282. The company has a quick ratio of 0.71, a current ratio of 0.84 and a debt-to-equity ratio of 2.57. The firm has a market cap of $4.25 billion, a PE ratio of 20.58 and a beta of 1.96. International Game Technology has a 1 year low of $18.90 and a 1 year high of $28.82. The firm has a fifty day moving average of $21.06 and a 200 day moving average of $20.92.

International Game Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 26th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $0.80 annualized dividend and a yield of 3.75%. International Game Technology’s dividend payout ratio (DPR) is presently 78.43%.

Analyst Upgrades and Downgrades

Several brokerages have commented on IGT. StockNews.com upgraded shares of International Game Technology from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Stifel Nicolaus increased their price target on shares of International Game Technology from $26.00 to $30.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Finally, B. Riley restated a “buy” rating and set a $30.00 price objective on shares of International Game Technology in a research report on Friday, July 26th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $28.67.

About International Game Technology

International Game Technology PLC operates and provides gaming technology products and services in the United States, Canada, Italy, The United Kingdom, rest of Europe, and internationally. It operates through three segments: Global Lottery, Global Gaming, and PlayDigital. The company designs, sells, operates, and leases a suite of point-of-sale machines that reconciles lottery funds between the retailer and lottery authority; provides online lottery transaction processing systems; produces instant ticket games; and offers printing services, such as instant ticket marketing plans and graphic design, programming, packaging, shipping, and delivery services, as well as iLottery solutions and services.